Add butter and oil to a 6 quart Dutch oven. When the butter melts, add the diced onion and sauté for a few minutes.
Add washed and strained rice, corn, carrots, and peas, if using. Sprinkle with salt, chili powder, and stir for another minute.
Add garlic and stir for one more minute. Mix the canned tomatoes, tomato paste, and chicken broth into the rice. Bring to a boil, then cover and cook over very low heat for 25 minutes.
Stir the rice halfway through the cooking time. Enjoy as a side with your favorite Mexican dishes. Garnish with chopped cilantro.
Notes
Store rice in an airtight container in the fridge for up to 5 days.
I don't recommend freezing rice because the rice breaks up into little pieces once reheated. Instead, use it to make other meals like Mexican breakfast burritosor Mexican rice bowls.
Mexican Rice can be reheated in the microwave or on the stovetop.
Both jasmine rice and long-grain rice can be used to make this recipe.